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Wind turbine maker Suzlon Energy's consolidated loss in Q4FY15 doubled to Rs 1,212 crore from Rs 603 crore in same period last year due to fall in income and provision for impairment of goodwill following sale of its German subsidiary Senvion.
Revenue declined to Rs 4,926 crore in Q4FY15 from Rs 6,645 crore in same period last year as the company was unable to execute projects due to lack of working capital.
On a full year basis, the company said it had achieved a positive earning before interest tax depreciation and amortisation of Rs 316 crore.
Kirti Vagadia, Group Head of Finance, Suzlon Group said: “Our results for FY15 were largely impacted by working capital challenges, which have now been addressed. Our business operations are now adequately funded with requisite working capital facilities to ramp up volumes. Our profitability and operating efficiency are enhanced as reflected by the increased EBITDA and improved net working capital ratios. The reduced leverage will lower the interest expense and principal repayment, providing more headroom to focus on business and order execution.“
